Introduction: Trade and commerce have grown exponentially over the last decade. The usage of credit cards and debit cards has increased over the years. Its popularity and increase in usage can be mainly attributed to the flexibility and security it offers to the people who uses it. These cards have revolutionized the field of business and trade. There are two main networks that issue these credit cards, namely Visa and Master Card. These have over a quarter of a million financial institutions that have associated with them to issue the cards. Let us see about Master Card and one of its major associate institutions in Canada, Capital One that issues a number of credit cards that are of the brand Master Card.
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Master Card and its Networks: Master Card is one of the major credit card brands in the world. It is also the main competitor of Visa. The competition between these companies led to the frenzied associations of financial institutions that have authority to issue their cards. These financial institutions sometimes have ties with both of these companies and issue a credit card of one brand and the debit card of the other brand. The Master card network has more than 25,000 financial institutions that have combined with it to create this global giant credit network.
This card has been issued by various banks and other financial institutions bundled along with their own individual benefits, rewards program and interest rates. But the main income of the Master Card comes from the amount of money paid as a dividend of the interest charged per customer by the financial institution. Also people don’t have direct Master Cards issued to them it is usually through the financial institutions. The financial institutions get their profits from the rate of interest and annual fees they collect from the customer. Now let us see about the main provider of Master Card in Canada, the financial Institution called Capital One.
Capital One Credit Cards: Capital One is one of the three main financial institutions in Canada that offers the Credit Card services to the public. The alliance of the Capital One with Master Card has made the most of its Credit Cards to be released as a Master Card. The Capital One has a competitive edge over other companies offering the credit cards with its no fee credit cards. The Capital One Smart Line Card released recently has a guaranteed 3 years fixed 5.99% interest rate with no annual fees and no rates for balance transfers.
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Also most of the credit cards of Capital One are of Master Card Brand with all the three types the platinum, gold and silver cards. These provide the user with much more flexibility and security these cards have all the security features that are given as standards for a Master Card. The Capital One Credit cards also enjoys all the benefits of the master card with Master Card Road Assist, Pay Pass, Global Service and 24/7 support with $0 fraud liability, All these qualities have Made the Capital One Credit Cards a grand success and a great credit card for use by the customers.
